XML 57 R44.htm IDEA: XBRL DOCUMENT v3.20.4
Accumulated Other Comprehensive Income (Tables)
 12 Months Ended
Dec. 31, 2020
Equity [Abstract]  
Changes in Components of Accumulated Other Comprehensive Income, Net of Tax

The following table shows the changes in the components of AOCI, net of tax (in millions):

 

 

 

Foreign

 

 

Cash

 

 

Defined

 

 

 

 

 

 

 

Currency

 

 

Flow

 

 

Benefit

 

 

Total

 

 

 

Translation

 

 

Hedges

 

 

Plan Items

 

 

AOCI

 

Balance December 31, 2019

 

$

(32.8

)

 

$

16.4

 

 

$

(225.5

)

 

$

(241.9

)

AOCI before reclassifications

 

 

25.6

 

 

 

(33.5

)

 

 

(12.4

)

 

 

(20.3

)

Reclassifications to statements of earnings

 

 

-

 

 

 

(38.5

)

 

 

2.9

 

 

 

(35.6

)

Balance December 31, 2020

 

$

(7.2

)

 

$

(55.6

)

 

$

(235.0

)

 

$

(297.8

)
Reclassification Adjustments from Accumulated Other Comprehensive Income

The following table shows the reclassification adjustments from AOCI (in millions):

 

 

 

Amount of Gain / (Loss)

 

 

 

 

 

Reclassified from AOCI

 

 

 

 

 

For the Years Ended December 31,

 

 

Location on

Component of AOCI

 

2020

 

 

2019

 

 

2018

 

 

Statements of Earnings

Cash flow hedges

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign exchange forward contracts

 

$

45.4

 

 

$

38.4

 

 

$

(26.2

)

 

Cost of products sold

Interest rate swaps

 

 

-

 

 

 

2.8

 

 

 

-

 

 

Interest expense, net

Forward starting interest rate swaps

 

 

(0.6

)

 

 

(0.6

)

 

 

(0.6

)

 

Interest expense, net

 

 

 

44.8

 

 

 

40.6

 

 

 

(26.8

)

 

Total before tax

 

 

 

6.3

 

 

 

5.5

 

 

 

(3.2

)

 

(Benefit) provision for income taxes

 

 

$

38.5

 

 

$

35.1

 

 

$

(23.6

)

 

Net of tax

Defined benefit plans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Prior service cost

 

$

3.9

 

 

$

7.3

 

 

$

9.9

 

 

Other income (expense), net

Curtailment gain

 

 

-

 

 

 

7.2

 

 

 

-

 

 

Other income (expense), net

Unrecognized actuarial loss

 

 

(8.5

)

 

 

(21.8

)

 

 

(26.2

)

 

Other income (expense), net

 

 

 

(4.6

)

 

 

(7.3

)

 

 

(16.3

)

 

Total before tax

 

 

 

(1.7

)

 

 

(2.3

)

 

 

(4.3

)

 

(Benefit) provision for income taxes

 

 

$

(2.9

)

 

$

(5.0

)

 

$

(12.0

)

 

Net of tax

Total reclassifications

 

$

35.6

 

 

$

30.1

 

 

$

(35.6

)

 

Net of tax

 
Tax Effects on Each Component of Accumulated Other Comprehensive Income Recognized in Statements of Comprehensive Income (Loss)

The following table shows the tax effects on each component of AOCI recognized in our consolidated statements of comprehensive income (loss) (in millions):

 

 

 

For the Years Ended December 31,

 

 

 

Before Tax

 

 

Tax

 

 

Net of Tax

 

 

 

2020

 

 

2019

 

 

2018

 

 

2020

 

 

2019

 

 

2018

 

 

2020

 

 

2019

 

 

2018

 

Foreign currency cumulative

   translation adjustments

 

$

(43.4

)

 

$

12.1

 

 

$

(148.7

)

 

$

(69.0

)

 

$

13.6

 

 

$

(13.3

)

 

$

25.6

 

 

$

(1.5

)

 

$

(135.4

)

Unrealized cash flow hedge (losses) gains

 

 

(42.7

)

 

 

34.6

 

 

 

81.1

 

 

 

(9.2

)

 

 

4.0

 

 

 

12.9

 

 

 

(33.5

)

 

 

30.6

 

 

 

68.2

 

Reclassification adjustments on

  cash flow hedges

 

 

(44.8

)

 

 

(40.6

)

 

 

26.8

 

 

 

(6.3

)

 

 

(5.5

)

 

 

3.2

 

 

 

(38.5

)

 

 

(35.1

)

 

 

23.6

 

Adjustments to prior service cost

   and unrecognized actuarial

   assumptions

 

 

(20.9

)

 

 

(56.4

)

 

 

(22.7

)

 

 

(11.4

)

 

 

(7.9

)

 

 

(5.0

)

 

 

(9.5

)

 

 

(48.5

)

 

 

(17.7

)

Total Other Comprehensive

   (Loss) Income

 

$

(151.8

)

 

$

(50.3

)

 

$

(63.5

)

 

$

(95.9

)

 

$

4.2

 

 

$

(2.2

)

 

$

(55.9

)

 

$

(54.5

)

 

$

(61.3

)